We've known that Microsoft would be killing off its Microsoft Points currency system a while back when Windows 8 was launched, but it seems like the company is finally going to replace its virtual money with real cash later this year. Reported by The Verge, gift cards representing real dollar amounts will take over the current MS Points model.

In addition to using gift cards, Microsoft will also be allowing consumers to use credit and debit cards for transactions, just without that fake money funny business that we see today. The new currency system will also be shared across the Windows Store, Windows Phone Store, and Xbox Marketplace.

It is reported that Microsoft plans to reveal the new system at this year's E3 and will be ready for the next-generation Xbox. Thankfully we won't have to do funny money conversions in our head in the near future.